| News & Trends | ||
| Thai commodity price fall aids building sector - Analysts - 26 Aug, 2008 | ||
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Analysts said that the property market in Thailand is likely to improve in the second half of 2008 as pressure from inflation and from oil & steel prices will ease while higher interest rates will not stop homebuyers from seeking loans. Mr Vikrom Watcharakup director of Iron & Steel Institute of Thailand has forecasted a 10% drop in steel prices next month, partly due to a downward trend in oil prices. He said that ''The trend of oil and steel prices is in the same direction. A 12.8% growth of steel consumption in the first half of 2008, mainly in construction, which makes up 60% of total consumption, speculating on a rise in prices by building their stocks." In his view, though, the cooling of world steel prices since July 2008 should not deter developers and contractors from investigating new construction technologies like pre cast, prefabrication and pre engineering that could reduce the impact of volatile steel prices. Mr Staporn Phettongkam secretary general of Siam City Cement Plc said that in contrast to the trend in oil and steel, cement prices are tending to rise as falling demand makes it difficult to achieve economy of scale in production. He added that ''The property sector needs to do market research, find alternative lower-cost materials, innovate in products and construction technology and find niche markets to succeed.'' Mr Atip Bijanonda president of the Thai Condominium Association said that oil prices in the second half of 2008 were likely to fall but that oil prices could continue to affect costs because contractors might not rely on the downward trend. He added that ''We are worried about higher construction costs and the lack of labor force for construction jobs as the workforce has shifted to agriculture.'' | ||
| Today's News | ||
| Clips | ||
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| Chinese CRC export price tends to level off | |
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| TISCO cuts stainless steel export price by USD 750 per tonne | |
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| Japanese SS mills pending price negotiation with Asian buyers | |
| Export And Import Levels | ||
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| Steel export shrinks to 379, 000 tonnes in October | |
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| US slaps duties on China welded steel pipes | |
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